Baiyue Group (08545) announced that since the company and Grant Thornton failed to reach an agreement on the company's proposed audit fees for the financial year ending March 31, 2024, Zhitong (Hong Kong) Certified Public Accountants Limited (Zhitong) will resign as the company's auditor from November 1, 2023.
Furthermore, according to the company's rules of association and as recommended by the Audit Committee, it has decided to appoint Xinlongyuan Certified Public Accountants Co., Ltd. (Xinlongyuan) as the company's new auditor, effective November 1, 2023, to fill the temporary vacancies after Zhi Tong's resignation. The term of office is until the end of the company's next annual shareholders' meeting.